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Sony expects MEA revenues to cross $2.2b

Mirrorless interchangeable lens camera market is expected to grow 42 per cent in the UAE this year

Gulf News

Dubai: Japanese giant Sony expects revenues to cross $2.2 billion this fiscal year (April-March) from the Middle East and Africa compared to $2 billion last year, mainly fuelled by strong growth in mobile phone and digital imaging divisions, said a top official.

“In some countries, Sony is losing money but the region is a strong contributor to the group’s growth.

Fastest growing categories are the mobile phone business followed by digital imaging division,” Hiroyasu Sugiyama, managing director, Sony Middle East and Africa, told Gulf News .

“We are focusing on emerging markets like Africa for more growth and will be expanding our operations. Gulf regions have become more stable.”

Smartphones are cannibalising “some low-end cameras, but we are focusing more on the high-end cameras. I was surprised to see females using high-end Sony cameras in the region for photo shoot,” he said after launching a new line-up of alpha NEX series.

According to research firm GfK, mirrorless interchangeable lens camera market is expected to grow 42 per cent in the UAE this year.

According to Yuji Tanaka, general manager, imaging division, Sony Corp Japan, out of the 19.5 million cameras to be sold this year, 25 per cent is expected to be mirrorless interchangeable lens cameras while this is expected to grow to 31 per cent next year, out of the total 21.6 million units.

“Our CMOS sensors are mostly used in the many electronics products. Around 35 per cent of the top mobile phones are using our sensors while 72 per cent of the compact cameras are using and 41 per cent of DSLRs are using our sensors,” Tanaka said.

Sony has 45 per cent market share in the region and around 70 per cent market share in the mirrorless interchangeable lens camera market globally.

“We hope to sell 100 units of the 84-inch 4K-resolution Bravia LED TV this year in the region. It is priced at Dh99,999. Our expectations are to sell 200 units in the next four to five months and we are getting good response for these units,” Sugiyama said.

“We are expecting around 15-20 per cent rise in revenues in the region next year,” he added.